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The heatwave across much of Europe is deriving demand for EU Allowances and the market outlook for this week is bullish, despite increased auction volumes, says Louis Redshaw.

In the absence of a sell-off trigger, the direction of EU Allowances (EUAs) this week is likely to be determined largely by moves in the wider energy complex, says Louis Redshaw.

High auction volumes are likely to limit further gains in the price of EU Allowances this week, says Louis Redshaw.

Further volatility in EU Allowance prices is likely this week due to Wednesday's options expiry and bearish fundamentals, says Louis Redshaw.

The outlook for EU Allowance prices remains bearish, says Louis Redshaw, because of large auction volumes this week and anticipated activity in the options market.

EU Allowance prices are likely to continue to struggle this week, amid high volatility, says Louis Redshaw. However, the underlying uptrend remains strong, despite negative fundamental factors.

A sideways move in EU Allowance prices is likely this week, but further gains remain a possibility despite increased auction supply, says Louis Redshaw.

Holiday season in Europe is likely to curtail the volumes of EU Allowances and drive pricing from the supply side, says Louis Redshaw.